"We've seen political parties formed in recent times, backed by millions of dollars and big ideas, that have collapsed without the support of everyday New Zealanders," Mr Peters said.

The comment came shortly after the deregistration of The Opportunities Party (TOP) - the party Mr Morgan started.

On a Newshub tweet referencing the story, Mr Morgan fired back at Mr Peters, saying: "Tenure is not political success".

"To have been part of the [establishment] that's overseen rising inequality, stagnant productivity and [environmental] destruction for 30 years, Peters is a disgrace, champion of the largest intergenerational theft NZ's seen, represents all that's sick in NZ politics".

It's no secret the two don't get along. Last year, they exchanged a war of words at Rātana Pā.